All You Need To Know About Accident Claim

Do you qualify for income replacement or caregiver benefits?

If a car accident prevents you from working, you may be entitled to income replacement benefits. Such benefits are provided to injured parties who are unable to perform the essential functions of their jobs as a result of the accident. However, before benefits are granted, the victim’s condition is thoroughly examined to ensure that there is a disability. If the injury or accident causes a condition that necessitates specialised care, you may require the assistance of a full-time caregiver.
The cost of hiring a full-time caregiver can be prohibitively expensive for the family. As a result, insurance companies provide caregiver benefits to the victim’s family. These benefits provide additional resources to the victim’s family in order to pay for this service. Attendant care benefits and caregiver benefits are not the same thing. The general attendant assists with daily tasks such as dressing, hygiene, and cooking.

Is the claim settlement tax deductible?

The CRA does not levy taxes on compensation received by car accident victims in Ontario, but income from lost wages is taxable. Taxation will be determined by the terms of the agreement. Do you need to hire an attorney? You are not required by law to hire a lawyer. However, pursuing a tort, accident benefits claim on your own can be difficult and risky. Seeking the assistance of a lawyer can ensure that you receive the assistance and settlement that you are entitled to.